Dana Gas makes two new gas discoveries in Egypt

This should increase its commercial reserves by between 17 (proved) and 95 (proved '&' probable) MMBOE

Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced that it has made two new onshore gas discoveries in the Nile Delta Basin of Egypt.

Initial estimates indicate that together the two discoveries, known as Alyam-1 and Balsam-1, should increase the company's commercial reserves by between 17 (proved) and 95 (proved '&' probable) million barrels of oil equivalent (MMBOE).

Appraisal drilling will be conducted on both discoveries which are located on the West El Manzala Concession, operated by Dana Gas.

The company has already filed a declaration of commerciality and development plans for the two discoveries, which will be tied in to the nearby pipelines also owned by Dana Gas.

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